Warwick Business School responds to the crisis by appointing a new kind of scientist

Time to Get Real: Warwick Business School Responds to the Crisis by Appointing a New Kind of Scientist

Professor Andrew Oswald Andrew Oswald, a leading British academic known for his iconoclastic ideas on the study of happiness and herd behaviour, has been appointed as Pro Dean for Research and Professor of Behavioural Science at Warwick Business School.

He will set up a group for the study of Behavioural Science and its applications in business, the economy and finance. It will be the first of its kind in the world. Behavioural Science is a relatively new research and teaching field that is intrinsically interdisciplinary, lying at the nexus of applied psychology, organisational behaviour, neuroscience, sociology, management science, economics and finance.

Professor Oswald is the first academic appointment made by the new Dean of WBS, Professor Mark Taylor, who took up the deanship at the beginning of April, having previously been a Managing Director at the world's largest asset manager, BlackRock, where he helped run a large global macro hedge fund. Professor Taylor also has a distinguished academic record in finance.

"It's time to get real", said Dean Taylor. "My experience as an asset manager during the global crisis drove home to me that there are important forces at work in the financial markets and in the economy more generally that just aren't captured by traditional economic and financial models. We need to ditch old ideas about rationality that don't work in the real world and get out of the academic silos. If we want to understand the world, we need a new approach that is able to look across traditional disciplinary boundaries. Andrew has exactly the right credentials to help WBS lead the way in this exciting new field."

Best known for his work on job satisfaction, happiness and mental health, Professor Oswald is something of an academic polymath, having published in economics, industrial relations, epidemiology, law, psychology, statistics and scientific journals, and enjoying the unusual distinction of being one of the very few non-scientists in the world to serve as a member of the editorial board of the leading American scientific journal Science. In 2009, Professor Oswald also served on the Commission on the Measurement of Economic Performance and Social Progress, set up by French President Sarkozy and chaired by Nobel Prize winner Joseph Stiglitz.

Professor Oswald commented: "WBS is going to be one of the most innovative business schools in Europe and I am delighted to be on board. It is an interesting challenge to figure out why and where conventional economics went wrong. We have to change. Burying our heads in the intellectual sand and not budging will just end in us all being drowned."

Mark Taylor
Dean of Warwick Business School, Professor of International Finance

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One of Europe's largest business schools and the largest department of the highly-rated University of Warwick, WBS is fully accredited. Our teaching is rated excellent and 75 percent of our research is rated at 3* and above, placing us 3rd in the UK.
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Ends (444 words) - released 9.00am, 21 April 2010

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